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industry

Saudi Arabia has been a hard market for western oil majors to penetrate, making this latest opportunity for greater involvement highly attractive. The pace of change is certain to be slow, and delays inevitable. Even so, this is not likely to deter the oil companies. Many are likely to try and take advantage of this opportunity to build their Saudi presence.

Published By Datamonitor

The recent announcement by 15 gas-exporting states, including six of the world's top 10, revealing that they are to form a permanent organization intended to stabilize prices and monitor markets does not indicate that an OPEC-style gas cartel is any closer to becoming a reality. Still, Europe cannot afford to sit on its hands forever.